Consumer Purpose Loans definition

Consumer Purpose Loans means loans to one or more individuals the proceeds of which are used to purchase goods, services or merchandise for personal, household or family use.
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Consumer Purpose Loans means loans to one or more individuals the proceeds of which are used to purchase goods, services or merchandise for personal, household or family use. “Continuing Director” means (a) any member of the Board of Directors who was a director (or comparable manager) of a Person on the date of this Agreement, and (b) any individual who becomes a member of the Board of Directors after the date of this Agreement if such individual was approved, appointed or nominated for election to the Board of Directors by a majority of the Continuing Directors, but excluding any such individual originally proposed for election in opposition to the Board of Directors in office on the date of this Agreement in an actual or threatened election contest relating to the election of the directors (or comparable managers) of a Person and whose initial assumption of office resulted from such contest or the settlement thereof. “Control Agreement” means any control agreement entered into among any Borrower, Agent and a financial institution, as each may be amended, modified, restated or extended from time to time. “Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §382.2(b). “Credit Documents” means this Agreement, the Notes, the Subordination Agreements, the Control Agreements, the Custodian Agreement, the Guaranties, Collateral Pledge Agreements, System Provider Letter Agreement, Issuer Documents and any and all additional documents, instruments, agreements and other writings executed and delivered pursuant to or in connection with this Agreement, as each may be amended, modified, restated or extended from time to time. “Custodian” means a Person reasonably acceptable to Agent. “Custodian Agreement” means a Custodian Agreement by and among Agent, Borrowers, and Custodian, as the same may be amended, modified, restated or extended from time to time. “Debt” means as of the date of determination, all outstanding indebtedness including without limitation: (a) all loans made hereunder to Borrowers; (b) accounts payable as of the date of determination; (c) income tax liabilities; (d) mortgages; (e) deposits, debenture instruments, and other instruments, including all accruals of interest ...
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Examples of Consumer Purpose Loans in a sentence

  • No Borrower has direct or indirect Subsidiaries or Affiliates, or investments in or loans to any other individuals or business entities (other than Consumer Purpose Loans), except as described in Exhibit H attached hereto and made part hereof.

  • Advances shall be used to finance Borrowers’ portfolios of Consumer Purpose Loans, for general working capital purposes and for other lawful corporate purposes except as limited under this Agreement.

  • No Borrower has direct or indirect Subsidiaries or Affiliates, or investments in or loans to any other Person (other than Consumer Purpose Loans), except as described in Schedule 4.12 attached hereto and made part hereof.

  • Advances shall be used to finance Borrowers’ portfolios of Consumer Purpose Loans which constitute Eligible Receivables and for other lawful corporate purposes except as limited under this Agreement.

  • Borrower has no direct or indirect Subsidiaries or Affiliates, or investments in or loans to any other individuals or business entities (other than Consumer Purpose Loans), except as described in Exhibit G of this Agreement.

  • Advances shall be used to finance the Borrower's portfolios of Consumer Purpose Loans which constitute Eligible Receivables.

  • No Borrower has direct or indirect Subsidiaries or Affiliates, or investments in or loans to any other individuals or business entities (other than Consumer Purpose Loans), except as described in Schedule 4.12 attached hereto and made part hereof.

  • Advances shall be used to finance (a) the consummation of the Acquisition on the date hereof, (b) Borrowers acquisition of Borrowers’ portfolios of Consumer Purpose Loans which constitute Eligible Receivables and (c) for other lawful corporate purposes except as limited under this Agreement.

  • No Borrower or Guarantor has direct or indirect Subsidiaries or Affiliates, or investments in or loans to any other Person (other than Consumer Purpose Loans), except (a) as described in Schedule 4.12 attached hereto and made part hereof (as the same may be amended by any Joinder Agreement or with the written consent of Agent) or (b) as are permitted by Section 7.7.

  • Loans made hereunder shall be used solely to finance Borrower's portfolios or acquire additional portfolios (whether by asset or stock purchase, as permitted pursuant to Section 7.11 hereof) of Consumer Purpose Loans, and for working capital and general corporate purposes.